First Trust Correlations

FXN Etf

USD 19.60 0.17 0.87%

The current 90-days correlation between First Trust Energy and Pacer Lunt Large is 0.01 (i.e., Significant diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as First Trust moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if First Trust Energy moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

First Trust Correlation With Market

Poor diversification

The correlation between First Trust Energy and DJI is 0.67 (i.e., Poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding First Trust Energy and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with First Etf

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in First Trust Energy. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in housing.

Moving together with First Etf

0.95	XLE	Energy Select Sector Aggressive Push	Pair Corr
0.95	VDE	Vanguard Energy Index	Pair Corr
0.89	XOP	SPDR SP Oil	Pair Corr
0.93	OIH	VanEck Oil Services	Pair Corr
0.95	IYE	iShares Energy ETF	Pair Corr
0.95	IXC	iShares Global Energy	Pair Corr
0.95	FENY	Fidelity MSCI Energy	Pair Corr
0.96	FTXN	First Trust Nasdaq	Pair Corr
0.92	IEO	iShares Oil Gas Low Volatility	Pair Corr
0.76	MUU	Direxion Daily MU Trending	Pair Corr
0.76	MULL	GraniteShares 2x Long Trending	Pair Corr
0.89	KORU	Direxion Daily South	Pair Corr
0.8	FNGD	MicroSectors FANG Index	Pair Corr
0.62	NUGT	Direxion Daily Gold	Pair Corr
0.89	BWET	ETF Managers Group	Pair Corr
0.68	SHNY	Microsectors Gold	Pair Corr
0.77	JPIE	JP Morgan Exchange	Pair Corr
0.94	EIPI	First Trust Exchange	Pair Corr
0.65	PMAY	Innovator SP 500	Pair Corr
0.86	CCNR	CoreCommodity Natural	Pair Corr
0.67	CTEX	ProShares SP Kensho	Pair Corr
0.78	VGUS	Vanguard Ultra Short	Pair Corr
0.88	SCDV	ETF Series Solutions	Pair Corr
0.88	UDI	USCF ETF Trust	Pair Corr
0.64	GAPR	First Trust Exchange	Pair Corr
0.89	GENW	Spinnaker ETF Series	Pair Corr
0.68	FXC	Invesco CurrencyShares	Pair Corr
0.67	PFF	iShares Preferred Sell-off Trend	Pair Corr
0.73	ESML	iShares ESG Aware	Pair Corr

Related Correlations Analysis

	FXG	FXD	FEMS	FXZ	TLTE	RFV	FEP	UIVM	XMVM	PALC
FXG		0.45	0.85	0.85	0.87	0.84	0.77	0.88	0.71	0.73	FXG
FXD	0.45		0.67	0.75	0.62	0.78	0.79	0.71	0.89	0.89	FXD
FEMS	0.85	0.67		0.96	0.98	0.86	0.93	0.94	0.79	0.91	FEMS
FXZ	0.85	0.75	0.96		0.96	0.93	0.97	0.97	0.89	0.95	FXZ
TLTE	0.87	0.62	0.98	0.96		0.85	0.95	0.97	0.8	0.89	TLTE
RFV	0.84	0.78	0.86	0.93	0.85		0.89	0.92	0.9	0.9	RFV
FEP	0.77	0.79	0.93	0.97	0.95	0.89		0.97	0.91	0.96	FEP
UIVM	0.88	0.71	0.94	0.97	0.97	0.92	0.97		0.9	0.93	UIVM
XMVM	0.71	0.89	0.79	0.89	0.8	0.9	0.91	0.9		0.94	XMVM
PALC	0.73	0.89	0.91	0.95	0.89	0.9	0.96	0.93	0.94		PALC
	FXG	FXD	FEMS	FXZ	TLTE	RFV	FEP	UIVM	XMVM	PALC

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First Trust Constituents Risk-Adjusted Indicators

There is a big difference between First Etf performing well and First Trust ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze First Trust's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
FXG	0.63	0.11	0.11	0.53	0.54	(0.72)	1.36	(1.01)	3.36
FXD	0.91	0.04	0.05	0.07	0.93	(1.04)	2.05	(1.67)	5.66
FEMS	0.63	0.13	0.16	0.34	0.45	(0.75)	1.59	(0.99)	3.62
FXZ	1.15	0.39	0.23	(74.98)	1.13	(1.26)	2.71	(2.51)	6.67
TLTE	0.61	0.16	0.20	0.34	0.41	(0.67)	1.70	(1.00)	3.43
RFV	0.91	0.14	0.10	2.99	0.86	(1.04)	2.70	(1.74)	5.08
FEP	0.67	0.16	0.16	0.25	0.66	(0.72)	1.66	(1.42)	3.84
UIVM	0.58	0.20	0.26	0.36	0.28	(0.63)	1.44	(1.04)	2.99
XMVM	0.74	0.16	0.20	0.23	0.51	(0.93)	2.17	(1.15)	4.57
PALC	0.64	0.06	0.08	0.11	0.60	(0.72)	1.41	(1.12)	3.64

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First Trust Correlations

First Trust Correlation With Market

Poor diversification

Moving together with First Etf

Related Correlations Analysis

First Trust Constituents Risk-Adjusted Indicators

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